10 Best Battery Stocks To Buy According To Analysts

1. Solid Power, Inc. (NASDAQ:SLDP)

Analyst Upside Potential as of March 10: 204.35%

Number of Hedge Fund Holders In Q4 2024: 13

Solid Power, Inc. (NASDAQ:SLDP) develops advanced solid-state battery technology, with a particular focus on creating sulfide-based solid electrolyte materials. The company’s primary goal is to revolutionize energy storage through all-solid-state batteries (ASSBs). This technology offers potential advantages in energy density, safety, and charging capabilities compared to traditional lithium-ion batteries.

Solid Power, Inc. (NASDAQ:SLDP) intends to license its designs or sell its solid electrolyte for use in production at other battery manufacturers. That’s why the company ensures that its technology is compatible with existing manufacturing processes, meaning its designs can potentially reach the market faster than competitors requiring entirely new production methods. This approach has attracted strategic partnerships with automotive giants, including BMW and Ford, as well as a collaboration with Korean battery manufacturer SK On.

Even better, the company received the official nod from the US government to maintain its course. Last year, the Department of Energy extended a $50 million award to Solid Power, Inc. (NASDAQ:SLDP), which, in the company’s view, was “validation of the promise sulfide-based all-solid-state batteries hold.” The funds went to enhancing the company’s ability to continue developing and expanding production capabilities. By January 2025, the company had formalized the terms of this grant, marking an important milestone in its growth strategy.

Looking ahead, the company has ambitious production targets. It plans to increase the annual electrolyte production capacity to 75 metric tons by 2026 and further expand to 140 metric tons by 2028. This growth trajectory aligns with the anticipated market demand for advanced battery materials. It will also likely persuade more investors to pile into the stock. No wonder analyst projections give the stock a 204.35% upside potential.

While we acknowledge the potential of Solid Power, Inc. (NASDAQ:SLDP) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SLDP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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